Hotspot taps into FX dark pool demand

Large-order clients turn to off-market trades

William Goodbody at Hotspot FX
William Goodbody, Hotspot FX

KCG Hotspot has launched a foreign exchange spot dark pool, called Hotspot QT, to take advantage of rising participant interest in executing large orders with minimal impact on off-market liquidity.

Hotspot QT, which has been live for two months, expects banks and non-banks to trade minimum quote sizes of $5 million, and for these quotes to be available for 400–500 milliseconds, which is designed to put off high-frequency trading (HFT) firms making smaller-sized transactions.

To minimise market

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